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The Different Types of Sports Bets You Can Make

May 25, 2020 65 0
The Different Types of Sports Bets You Can Make

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Sports betting is a popular form of gambling that involves placing a bet on the result of a sporting event. Its main goal is to win more money. Except for “draw no bet” wagers, spread betting, and some other examples, a wager will have a couple of possible outcomes. Either you take home a profit according to the bookmaker odds, or you lose your bet.

Aside from bets on sports like soccer and basketball, sports betting also includes wagering on finance, e.g. interest rate changes, and entertainment, e.g. the winner of a reality TV singing competition. But novice and seasoned sports bettors alike often ask which are the best types of bets to place.

In a broad sense, no type of bet is conclusively better than the others. Surely, it will depend on your preference, the sport you are wagering on, as well as the circumstances. All types of sports bets come with merits in a particular situation.

The Different Types of Sports Bets

More often than not, people who are new to sports betting find the wide selection of sports bets pretty confusing. While that is understandable, it is best to understand each type of sports bet as soon as you can. Some types of sports bets are more complex than others, but all of them are easy to learn. Below is a list (plus no-brainer explanations) of the types of sports bets you can place.

Straight Bets

Most sports enthusiasts are likely familiar with the most basic wager in sports, the straight bet. Sports bettors often place this type of bet on sports such as basketball and football. A betting line—commonly called a point spread—is set. Here you may either wager on the underdog and get the points or on the favorite and give up the points. To cash in, the favorite needs to win the game by more than the set point spread. Meanwhile, the underdog must win outright or lose by less than the point spread to cover and win the wager. In such a situation, ties are referred to as a push. No money is won or lost.

Total Line Bets

Another common type of sports wager is the total line bets. A number is set for the combined final score of both teams. You can wager on the actual score exceeding the set number or staying below that total. Usually, when betting on basketball and football, you can wager on a total line by every half of a game.

Parlay Bets

A parlay is the act of grouping two or more picks together into a single wager. It should be at least two separate picks or up to a set limit (typically 10 to 12 picks) by the sportsbook. The betting odds on a parlay payout depend on the overall number of picks you group together. They normally open at a 13-to-5 return in your favor for a two-team parlay. For a 10-team parlay, it can go up to 645-to-1. The key to cashing in on a parlay is that each of your picks should win or the whole parlay is lost. Parlays are a high-risk, high reward type of sports bet.

Teaser Bets

A teaser bet is like a parlay with a twist. In this type of sports bet, you will still group two or more picks, and then tweak the point spreads in your favor for a lower total payout. If your sportsbook offers a six-point teaser wager, then a 3.5-point underdog would now receive 9.5 points. The con of teasers is that they are difficult to hit, and your total payout is slightly cut via the adjusted betting lines. A straight-up three-team parlay usually pays 6-to-1. When you tease the spread in your favor, however, the payout falls to 2-to-1 on a winning bet.

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Pleaser Bets

A pleaser bet lets you move the line in favor of the sportsbook for better than average odds. It is the reverse of a teaser and is much harder to win. Nevertheless, it payouts much more. The sportsbook gains the better line while you get the chance at a higher payout. Instead of earning points, you lose them. Therefore, if a team is a 6.5-point favorite, the line climbs to -12.5 in a 6-point pleaser.

Money Line Bets

When making a money line bet, you will select a team to win straight up sans any point spread. The risk present is the amount you need to bet to choose the favorite verse the amount you stand to make if you select the underdog. Such types of sports bets are available on all major sports, mainly for hockey and baseball.

Futures Bets

Wagering on futures is usually a long-term investment. This type of sports bet is pretty self-explanatory. You will bet on a future outcome, e.g. how many regular season games a specific team will win or who will be the champion team. If you have a knack for predicting a season or series result, then you can make a killing in futures betting.

Full Cover Bets

Full cover bets include all possible multiple bets, such as accumulators, trebles, and doubles, for a certain number of selections. You will find various types of wagers within a full cover bet. While each outcome does not have to come through with you to win, winning more games results in a higher payout.

Handicap Bets

Handicap betting is an alternative way to wager on particular events. This form of bet attempts to level the playing field, much like in golf. The odds account for the dissimilarity in the perceived strength of every opponent. Football is the most popular sport to apply handicap betting. However, several other sports also offer handicap markets, including golf, tennis, and rugby.

If and Reverse Bets

While if bets and reverse bets are available at most sportsbooks, they are not popular due to their more complex nature. But once you get acquainted with the concept, it is not too difficult to understand. If bets and reverse bets are advanced wagers, but it will be worth it for newbies to learn how they work as they come with some notable perks.

If bets and reverse bets are like parlays, in that they involve making several selections. However, these bets are lower risk and can still provide a return even if you fail to get all selections right. If bets and reverse bets are also excellent if you wish to wager on the outcome of more than one match sans risking too much of your bankroll.

Betting Regulations in Japan

Sports betting in Japan is only partially legal. You can only wager on select domestic sports and in selected formats. These sports include keirin, horse racing, motorcycle racing, powerboat racing, and some football leagues. Moreover, since online sports betting in Japan is illegal, bettors have limited options available.

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But despite the restrictive legal climate in Japan, you can still find several sportsbooks catering to Japanese citizens. That is since the local government does not actively pursue those violating the regulation. Many reputable licensed bookies offer banking methods friendly to Japanese punters. Some even have Japanese language and provide betting accounts in Japanese Yen. These include Pinnacle, XBet, SpinSports, MyBookie, Intertops, Bet365, and Betway.

The aforementioned betting sites are relatively popular among bettors in Japan. That is due to the freedom they provide regarding the types of sports bets you can make. Japanese bettors can only make parlay bets where operators take a lion’s share of the prize money. With online betting sites, Japan-based bettors can make fixed odds betting. These sites let them bet on a ton of sports other than those on offer in Japan, which include the NBA, NHL, and the NFL.

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